Job description
Job Summary and Position Objective
The position of Construction Loan Manager (CLM) is responsible for processing construction closings and managing key aspects of the construction lending process. In addition, the CLM may work with other 3rd party vendors to effectively manage a growing construction loan portfolio. The CLM will also be responsible for providing training, managing workflow and working closely with the Operations, Accounting and Servicing Departments.
Essential Functions:
Review complete construction project submission package including but not limited to contractor/builder acceptance requirements, construction budget, construction cost breakdown, plans and specifications, draw schedule and permits. Validate consistency, completeness, and feasibility of all submitted materials.
Collaborate with borrowers, contractors/builders, construction loan management vendors, and other stakeholders to ensure timely and accurate loan closings by proactively coordinating communication, reviewing required documentation, resolving issues, and tracking progress through each stage.
Manage the construction draw process, including review and approval of draw requests, lien waivers, title updates, invoices, site photos and inspection reports. Ensuring adherence to approved budgets and timelines.
Collaborate with Accounting Department to ensure accurate and timely disbursements.
Manage and work closely with 3rd party construction inspectors and vendors contracted to provide additional support and oversight on certain projects.
Monitor project performance to identify potential risks and recommend corrective actions as needed.
Maintain comprehensive records and documentation for audit and reporting purposes.
Provide regular updates on project status and loan performance to senior management.
Create new tracking tools and overall project performance.
Provide additional support as needed for the Operations teams and other Loan Service Representatives within the Loans Department.
Create efficient operational procedures and maintain training material.
Responsible for the accuracy of all loan documentation and loan-related banking software entries.
Required Competencies/Skills
Microsoft Office Suite, SharePoint
Excellent customer relation skills
Strong organizational and project management skills
Excellent verbal and written communication skills
Strong computer skills including MS Outlook, Word, and Excel.
Experience with Encompass system preferred
Preferred Education and Experience
Minimum of 5 years of mortgage and construction loan experience.
Originally posted on Himalayas
Who can apply
Eligible countries: United States. Accepted UTC offsets: UTC-10, UTC-9, UTC-8, UTC-7, UTC-6, UTC-5, UTC+14. Review the full description for employer-specific work authorization, residency and schedule requirements.